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Ten Things to Ask A Prospective Chicago Rental Management Company

 

Your goal is to have a hassle-free, haggle-free experience with property management. Evanston landlords don’t want a company that’s going to make things messy or complicated. They want a company that puts them first and makes things simpler. So what can you do to make sure you choose the right Chicago rental management company? Here are some specific questions from Real Property Management Chicago Edge you should ask when you’re shopping around.

  1. Does your company restrict its business solely to property management?

    Many property management companies try to do it all. They pursue other interests on the side in addition to property management. If you want a team of dedicated and qualified professionals, be sure your chosen company focuses exclusively on the management of rental properties.

  2. How many years of experience does your company have in the industry?

    Choose a company with at least 10 years of experience, so they’ll know how to handle any problems that come along.

  3. Do employees at your company have the training and skills necessary to assist me?

    All of the staff members at a professional property management company should be well-versed and knowledgeable about all the aspects of property management. They should have some formal training they can tell you about to prove to you they know what they’re doing.

  4. Who can I talk to if I have questions about my rental property?

    An effective property management company will have a person there to help you through each process of operating a rental property. We know you have questions, and they should not go unanswered.

  5. How do you keep me up to date on my rental property?

    Even if you live out of state, you still want to have frequent communication about your investment. At Real Property Management Chicago Edge, all landlords have access to their online owner portal where they can access documents, pictures, and real-time updates about their property.

  6. How many days pass by before you fill a vacant rental property?

    Remember that every day your property sits vacant is another day that you lose money. You want a company whose priority is to avoid vacancies and get your unit rented quickly to reliable tenants.

  7. What fees can I expect?

    Don’t sign or agree to anything before knowing what kind of fees you’ll be expected to pay. Sometimes hidden costs are buried in a contract, so demand upfront for a straightforward explanation of property management fees and what they cover.

  8. How quickly do you respond to maintenance issues?

    You want a company with a proactive approach to maintenance and not one that is going to leave your tenants with a leaky sink for a full week. A fast response time to a maintenance call or email from your tenant is a must.

  9. What kind of rent collection system do you have?

    You’re not going to make any money if there is not a standard, effective rent collection process already in place. Be sure to ask how money is collected, and what measures are taken if a payment is late.

  10. Will you keep me in compliance?

    Property management Evanston landlords want has to do with compliance, compliance, compliance. What good is a Chicago rental management company that doesn’t pay attention to the law? Pick a property manager who is familiar with the laws, codes, and ordinances of your city so you won’t get fined or entangled in a lawsuit.

At Real Property Management Chicago Edge, we have the knowledge and expertise to help you and your investment succeed. Call us today and we’ll answer all your questions!